Webinar Link

Meeting No: 2515 185 5601
Password: insurance

Certificate of Participants

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Abstract

Insurance penetration in emerging economies remains uneven, with life insurance gaining traction while non-life insurance lags behind. In India, total insurance premiums reached Rs 11.2 lakh crore in FY 2023–24, growing by 7.7%, yet overall insurance penetration stands at only 3.7% of GDP, well below the global average of around 7.0%. Life insurance dominates with nearly 74% of total premiums and a penetration of 2.8%, whereas non-life insurance remains limited at about 1.0%, reflecting low uptake of health and risk-cover products. Structural barriers such as low income, limited financial literacy, and inadequate product design intersect with behavioral factors like risk misperception and trust deficits. While regulatory efforts by the Insurance Regulatory and Development Authority of India (IRDAI) have improved access, significant gaps persist across rural and informal sectors. Digital platforms and microinsurance offer new opportunities, yet adoption challenges remain. In this webinar, the panelists seek to explore pathways to enhance both insurance penetration and public perception through policy reform, product innovation, digital outreach, and greater financial awareness.

About the Panel

Session Chair: T.R. Mendiratta

T.R. Mendiratta retired from Life Insurance Corporation of India as Executive Director (Micro Insurance) on 29th November 2019. He served with commitment and dedicated services to the company for about three decades. He was a Shareholder Director for 6 years in Punjab & Sind Bank, He contributed as a member of a Committee set up by IRDAI to examine all aspects of a Standalone Micro Insurance Company. He has also been associated with VimoSEWA, Ahmedabad as a consultant to popularize Micro Insurance amongst its marginalized women members.T.R. Mendiratta holds a Graduate Degree in Commerce and Fellowship from Insurance Institute of India, Mumbai.

Speaker: Manohar Giri

Dr. Manohar Giri is an Assistant Professor at the Graphic Era Hill University (Bhimtal Campus, Uttarakhand), where he is associated with the School of Management Studies and contributes to teaching and research in management and economics-related domains. He is also a member of the Centre for Case Development and Learning (CCDL), which promotes case-based pedagogy and applied research. His academic work includes contributions such as a Book Chapter on 'Governance and Economic Growth', examining the role of institutional quality in shaping development outcomes in Asian economies. His broader research interest lies in economic growth, governance, and policy analysis, with a focus on applied and interdisciplinary approaches. Dr. Giri is actively involved in academic collaborations, workshops and knowledge dissemination initiatives, reflecting a growing engagement with policy-relevant research and management education in emerging economy contexts.